Prenuptial agreements have always been looked upon with fear and controversy, with the assumption that there is a lack of trust in the relationship or that they will favor one party over the other.
However, they are becoming far more popular as people realize that they are highly beneficial and can save them from a lengthy and costly legal dispute in the future.
Here are some New York Prenuptial Myths vs. the Facts
1. A New York Prenuptial agreement is unromantic and shows lack of trust
Two adults going into a lifelong commitment to marriage actually build trust by talking about all of the possible scenarios that can come up in the future and being realistic about expectations and needs. This can actually create a greater bond and romanticism for the couple.
2. Prenuptial agreements do not stand up in Court
This is not always the case, although it can happen if you do not get the assistance of an experienced prenuptial lawyer. A carefully created prenuptial agreement, made without coercion or under duress will hold up in court. However, it is always a good idea for both parties to seek the services of a seasoned divorce attorney to help with the drafting of prenuptial agreements.
3. New York Prenuptial agreements are expensive
Considering the alternative of losing control of your assets or ending the marriage with very little, prenuptial agreements are inexpensive in the long term. The small one off fee can save you a lot of money and lengthy, expensive divorce proceedings in the future.
4. A NY Prenuptial Agreement favor wealthy men
The facts are that in order for a NY Prenuptial agreement to hold up in court it must be fair. If for any reason it is found to be unconscionable, the Court will set it aside. Women in a marriage can outline the terms of their role and compensation – for example if they are to be a homemaker and raise children, the agreement must make provisions for financial compensation as this is an interruption of her earnings and career. In this way a New York Prenuptial can actually empower a woman by allotting financial worth for her part of the marriage.
5. Prenuptial Agreements are just for the wealthy
The fact is that prenuptial agreements are for everyone. They determine how assets will be allocated upon divorce and also how any debt will be treated that is incurred by one party.
Even if you are starting out your marriage with little assets, don’t forget that things can change. Throughout your marriage, wealth and assets will accumulate. There may also be instances of inheritances that you can decide how to treat within your prenup.
6. We will never get a divorce
The statistical truth is that almost 50% of all marriages do end up in divorce. This does not have to be the case in your situation, but based on the statistics and evidence it is far more logical and practical to have a prenuptial agreement to set your mind at ease in the unfortunate event of marriage dissolution.
A New York Prenuptial does far more than protect assets in case of a divorce. A well drafted agreement can potentially save you a lengthy and costly legal battle in the future, protect the rights of all parties involved, protect businesses and ultimately create a fair and equitable agreement between two people.
When you have decided to create a prenuptial agreement, both parties should contact separate prenuptial lawyers.
At the Law Offices of Brian D. Perskin, a lawyer can help you work through the prenuptial agreement process. We will ensure that your property is protected and see that every step is carried out in a comfortable manner for you and your future spouse.